SAIL's fourth quarter net vaults 40 per cent to Rs2,085 crore
28 May 2010
State-owned Steel Authority of India Limited (SAIL) today reported a 40-per cent year-on-year jump in its after-tax profit (PAT) at Rs2,085 crore. The company achieved net sales turnover of Rs11,955 crore during the quarter, against Rs11,790 crore in the corresponding period last year.
The Maharatna public sector company's Q4 profit before tax (PBT) rose 34 per cent to Rs3,067 crore, audited financial results for January-March (Q4) of FY'10 showed.
Fourth quarter net sales exceeded Rs11,900 crore.
The company's improved profitability in Q4 was mainly due to market-oriented product-mix, 37 per cent increase in production of value-added steels and several cost efficiency measures, SAIL said in a release.
The Company has posted a standalone net profit of Rs2084.9 crore during the quarter ended 31 March 2010 compared with Rs1485.2 crore in the previous fiscal.
Improved sales realisation during the quarter and reduction in cost of some inputs like imported coking coal and ferro-alloys also boosted the bottomline, it said.